Ethereum Seeks Luck with DeFi

Ethereum network has been exposed to very intense transactions lately. The recent popularity of DeFi (decentralized finance) tokens and stablecoins and their rapid price increases have attracted many users to the etheruem network. According to Etherscan, 1.2 million transactions had taken place on June 23, and it has not been seen since the number of daily transactions of 1.35 million transactions at the beginning of 2018. Unlike Bitcoin, Ethereum has fixed block sizes. Block sizes are called gas limits. The day before, with the news that this limit would be increased by 25% to 12,500,000, miners and founders of ethereum faced the security of the system. Now, Ethereum and its network can use this popularity in a price sense and the anacoin-altcoin relationship with Bitcoin may weaken. Therefore, as a research team, we strive to prioritize ethereum more.

When we consider ETH / USDT parity technically; We are supported by the upward trend that has been in place since March 12. This support, which passed through the 231 USDT level, does not seem very strong. Therefore, the 217 USDT level, where both the 50-day average and the Bollinger subband intersect, can work as a support in sagging. Therefore, some withdrawals may be expected for the new purchase. The 3 oscillators that we have used due to their horizontal movements in the last days and that you see under the graph have confirmed each other and turned their direction down. Therefore, it is useful not to be in a hurry for the new purchase.

ETH, Daily period